"A chain is only as strong as its weakest link"
According to a 2015 IBM Cost of Data Breach Study, the average cost of a data breach is $3.8 million. The number one cause (76 percent) of these data breaches is weak passwords. This is not surprising. One study showed that 60 percent of people use the same password across multiple websites, and a second study determined that 90 percent of employee passwords can be cracked.
Your own office may be filled with users who have one weak password for everything and the users who have offices wallpapered with passwords scribbled on sticky notes. Simple passwords are easy to remember, and also easy to hack. Now that is a SERIOUS SECURITY THREAT!
So what is the way out?
What if all the different passwords could be encrypted and stored securely, within a password manager, and the user would only have to remember one master password to access it? Great idea, isn’t it?
Yes, but only this much is good for personal use. In business, the requirement is more complex.
How should your password manager be? Here is a checklist.
Several companies provide reliable and secure password managers, both cloud-based and on-premises, that are used widely by businesses worldwide. Some of them are LastPass, Keeper, DashLane, 1Password, Sticky Password, ManageEngine Password Manager, Adobe True key, etc.
Awareness is the key to prevention! The security of your business depends on your employees. Make them aware. Enforce stringent password policies. Maintain complex passwords and keep them encrypted in a secure Password Manager. You will be one step closer to protecting your company from cyber criminals.